Buzzing:
NBCC (India) has secured the total business of Rs 274.77 crore during the month of August, 2022.
NBCC (India) was quoting at Rs 33.70, down Rs 0.15, or 0.44 percent.
Fino Payments Bank to buy stake in PaySprint
Fino Payments Bank has executed the share subscription and shareholders’ agreement for investment by way of subscription of shareholding in PaySprint Private Limited.
The first tranche of the proposed investment upto Rs 2.5 crore is expected to be completed on or before October 10, 2022.
Remaining investment upto Rs 1.5 crore is expected to be completed on or before March 31, 2023, subject to RBI approval, as applicable and at the sole discretion of the Bank.
Jindal Stainless board to consider raising funds via debt securities
A meeting of the sub-committee of the Board of Directors is scheduled to be held on September 23, 2022 to consider the proposal to raise funds by way of issue of debt securities including secured or unsecured non-convertible redeemable debentures (listed/unlisted), through private placement.
Jefferies on SBI
-Buy Rating, target raised to Rs 700 from Rs 630 per share
-Raise earnings estimates by 3-5 percent
-Factoring in better credit growth
-Healthy credit growth and low credit costs will support earnings growth & RoA
Tapan Patel, Senior Analyst (Commodities), HDFC Securities
On Gold
Gold prices traded higher with spot gold prices at COMEX trading around half a percent up near $1671 per ounce on Wednesday. Gold October future contract at MCX were trading 0.45 percent up near Rs 49,395 per 10 grams by noon session.
We expect gold prices to trade sideways-to-up for the day with COMEX spot gold support at $1650 and resistance at $1690 per ounce. MCX Gold October support lies at Rs 49,000 and resistance at Rs 49,700 per 10 grams.
On Crude Oil
Oil prices rallied after Russian President Vladimir Putin announced a partial military mobilisation, escalating the war in Ukraine and raising concerns of tighter oil and gas supply. We expect crude oil prices to trade sideways-to-up with resistance at $89 per barrel with support at $84 per barrel. MCX crude oil October contract has important support at Rs 6750 and resistance at Rs 7050 per barrel.
European Markets Update
The pan-European Stoxx 600 nudged 0.3 percent higher by mid-morning, having recouped opening losses. CAC and DAX are in red while FTSE is marginally in the green.
Nifty FMCG gains 1.17 percent led by Britannia, Marico, HUL
Markets at 2 PM
Sensex is down 150.30 points or 0.25 percent at 59,569.44. Nifty has shed 59.70 points or 0.34 percent at 17,756.60. About 1212 shares have advanced, 1950 shares declined, and 128 shares are unchanged.
HDFC Bank signs long-term data and technology agreement with Refinitiv
Under the multi-year agreement, comprehensive access to Refinitiv’s data and products will enable HDFC Bank to realize new customer opportunities and fast-track its innovation agenda while reducing total cost. According to the press release, this will enable innovation as well as cost savings across multiple bank divisions including Wealth Management, Capital Markets & Global Markets, Risk, Compliance, and Customer Onboarding.
Info Edge to invest RS 80 crore in Metis Eduventures
The Board of Directors of Info Edge has approved entering into agreement to invest about Rs 80 crore in Metis Eduventures Private Limited as primary acquisition of shares.
Wipro partners with Finastra
Wipro and UK-based Finastra announced a partnership in India to power digital transformation for corporate banks in India.
This multi-year partnership makes Wipro the exclusive implementation and go-to-market partner for all banks in India for Finastra's Fusion Trade Innovation and Fusion Corporate Channels.
Wipro was quoting at Rs 401.95, down Rs 3.00, or 0.74 percent.
Cathay United Bank chooses iKredit360
Intellect Global Consumer Banking (iGCB) arm of Intellect Design Arena, announced that the Cathay United Bank, one of the leading banks in Vietnam, has chosen to implement iGCB’s acclaimed digital credit platform – iKredit 360 to power the next growth stage of their lending busines
Market LIVE Updates: Indices off day's low, Nifty above 17,700; eyes on Fed Meet outcome - Moneycontrol
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